Bitcoin dominance continues its surge higher

Quick Take

• The crypto market sold off over the weekend, but a few coins defied the sell-off, one being Bitcoin.
• Bitcoin held above $25,000, but the rest of the crypto market was severely impacted.
• Altcoins continued to lose value against Bitcoin in the past five days;
• Denominated against Bitcoin, Ethereum is 3% down, Doge is 8% down, Polkadot is 9% down, BNB is 10% down, Cardano is 11% down, and SOL is 16% down.
• As a result, the realized cap and market cap of Bitcoin continued to increase.
• Bitcoin realized cap is floating around 60%, approaching highs not seen since January 2021 and December 2017.
• Bitcoin’s dominance in the market cap is roughly 47%, nearing its year-to-date high.

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